US opinion on the economy deteriorated in May due to concerns about job prospects, but remained relatively strong despite high inflation. Consumer confidence fell slightly after a modest increase in April, falling to 106.4 from 108.6, according to The Conference Board’s monthly survey, amid the fastest increase in US consumer prices in more than four … Read more
The Federal Reserve said Tuesday that US industrial output increased in April, owing to the ongoing expansion of auto manufacturing. According to the data, total industrial production grew 1.1 percent in April, the fourth straight monthly increase — and double what analysts expected — while motor vehicle output increased 3.9 percent. US industry, including automakers, … Read more
Americans increased their shopping spending for the fourth consecutive month in April, with inflation at a 40-year high, as auto sales rebounded, according to government data released Tuesday, According to the Commerce Department, US retail sales increased 0.9 percent month on month to $677.7, while auto sales increased 2.2 percent in April after declining in … Read more
Brazil’s inflation rate hit a 26-year high in April, according to the government, as spiraling prices defied the central bank’s efforts to control them. According to the IBGE, inflation in the 12 months to April was 12.13 percent, the highest since 2003 and well above the central bank’s target of 3.5 percent. The rate for … Read more
The UK’s remaining put-up-Brexit border controls had been postponed again, the authorities said on Thursday, blaming rising energy costs and the conflict in Ukraine. Certification and physical assessments on food and animal goods from the European Union were to start with because introduced on January 1 this year. The controls were then positioned back to … Read more
Sales of existing US homes dropped for the second one directly month in March, an industry survey said Wednesday, a signal that higher mortgage prices and rising costs are taking the wind out of the booming area’s sails. Sales fell 2.7 percent ultimate month to a seasonally adjusted annualized fee of 5.77 million, which was … Read more
The International Monetary Fund (IMF) is ready to help Pakistan in its efforts to go off a looming balance of fee crisis and endorse roadmaps toward monetary sustainability together with the new authorities, The News mentioned Friday. Speaking to The News, IMF’s Resident Chief in Pakistan Esther Perez Ruiz stated: “The IMF congratulates [Shehbaz] Sharif on turning into … Read more
Economics and politics are inter-twined, the quicker any nation recognised this reality, the better placed it is for growth and development. For any nation state to be successful, the basic human needs and necessities of its populace have to be satisfied, first and foremost. The People’s Republic of China has achieved this enormous task. Having … Read more
PARIS: The share of global wealth of the world’s richest people soared at a record pace during the Covid pandemic, a report on inequality showed on Tuesday. Since 1995, the slice held by billionaires has risen from one per cent to three per cent, according to the World Inequality Report. “This increase was exacerbated during the … Read more
WASHINGTON: The threat of a US federal government shutdown loomed larger on Wednesday as the lawmakers failed to reach a budget agreement with just two days to go before the funding runs out. Congress has until Friday night to come up with a new budget to avoid a sudden stoppage of most so-called non-essential federal government … Read more
SHANGHAI: Recalling their first experience in China more than 10 years ago, Pakistani brothers Mian Muhammad Zubair and Habib Ur Rehman said they only knew one thing — future. “China is the future. That was what our father told us. So here we are,” the two, now in their 30s, said with a beaming smile. … Read more
State Bank of Pakistan has released its Annual Report on The State of Pakistan’s Economy for the fiscal year 2018-19 today. According to the report, several policy measures were taken during the year to manage the twin deficits crisis. In particular, adjustment of exchange rate to market fundamentals, curtailment in public sector development expenditure, and … Read more
